The share of the yuan in international settlements reached a record 4.74% in July, up from 4.61% in June, Securities Daily reports, citing data from the SWIFT settlement system.
The yuan has been the fourth most popular currency for international payments for the ninth month in a row.
In the trade sector, the Chinese currency has a market share of 6% and is second only to the US dollar, outperforming the euro for the second month in a row.
The popularity of the yuan is due to the growth of trade, stable macroeconomic indicators and greater openness of the country’s financial market, said Chao Zhen, a researcher at the Hainan Institute of Financial Studies at the People’s Bank of China.
